Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers launched the MEDITECH STACKATHON 2024.
MEDITECH STACKATHON 2024 was launched in New Delhi in collaboration with the Confederation of Indian Industry (CII).
Its goal is to transform the rapidly expanding MedTech industry in India by carefully examining the value chain of certain medical products.
Its objective is to address significant issues, encourage domestic production, reduce dependency on imports, and eventually position India as a world leader in medical technology.
The STACKATHON included a number of topics, including critical care, imaging, and cancer therapy.
The event demonstrated India’s enormous potential in the MedTech sector, with growth rates of up to 28% per year projected.
By 2030, the Indian MedTech market is predicted to grow to $50 billion.
Presently, India is one of the top 20 global markets for medical equipment and the fourth largest market in Asia.
India’s MedTech exports have already increased to more than 4 billion dollars.
